London | The European Central Bank has declared itself ready to act against the market meltdown and economic cudgelling from COVID-19, as European governments revved up plans to escalate their crisis response to the surging coronavirus caseload.
"The coronavirus outbreak is a fast developing situation, which creates risk for the economic outlook and functioning of financial markets," ECB President Christine Lagarde said in a brief statement issue late on Monday (Tuesday AEDT).
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
